Miško Rivjera III

UAB Levorita

Project identification number: 9845000909E2CCFD9O44-00000025 

Use of proceeds 

Funds raised during the bond issue will be used for the construction of the residential semi-detached housing project Miško Rivjera, developed by Gilesta Group, located at Gegužinės st. 19, Bareikiškių village, Vilnius district. The third tranche of € 0.5 M is planned to be raised out of the bonds programme of up to € 5 M. The programme is structured to finance the first stage of the development project and will be distributed in tranches depending on the capital needs of the project. The first € 1.5 M tranche was issued on 20th June 2026, the second € 1 M tranche was issued on 13th August 2026. The ISIN code for the bond issue is LT0000138430. 

The project will consist of 59 semi-detached houses (118 apartments), developed in three phases across a territory of more than 12 hectares. The first phase will comprise of 25 houses (50 apartments), the second phase will include 15 houses (30 apartments), and the third phase will include 19 houses (38 apartments). The apartments will range from 105 to 129 sq. m., and each apartment will have a 7–8 ares land plot. 

Construction has already commenced, and the first 8 houses (16 apartments) are currently under construction. Sales are scheduled to commence in autumn of 2026. The entire first phase, consisting of 25 houses, is planned to be completed by the end of 2027. 

The Miško Rivjera development is located in the southeast part of Vilnius, in one of the capital's priority development areas. The project will be situated next to a mature forest, in a quiet, low-density residential environment, only 15–20 minutes from Vilnius Old Town. The project is distinguished by its unique combination of natural surroundings and proximity to the city. 

The development will feature leisure infrastructure for residents, including a heated outdoor swimming pool, sauna, sports and recreational facilities, padel and tennis courts, walking paths surrounded by mature trees, and community spaces. The planned infrastructure positions the project at a higher standard compared to competing developments built on smaller individual land plots. 

It is anticipated that upon maturity, the bonds will be redeemed from the proceeds generated from apartment sales, which are projected to reach € 10.8 M during the first phase. 

The bonds will be secured by a first-ranking pledge over the land plots and the future building complex located at Gegužinės st. 19 and other multiple addresses, Bareikiškių village, as well as a first-ranking pledge over 100% of the Issuer's shares. The pledge over the land plots has already been registered. If bank financing is obtained during the course of the project, the bondholders' first-ranking pledge could become a second-ranking pledge. At present, the project developer does not plan to obtain bank financing; therefore, bondholders are expected to remain the sole creditors at this stage of the project's financing. The Loan-to-Cost (LTC) ratio for the project may not exceed 75%. 

Project structure 

Within the first stage of project's financing structure, equity (including advance payments from the buyers) will amount to € 4.1 M, representing 45% of the total project’s first stage costs. Of this amount, € 3.3 M has already been invested in the project, accounting for 82% of the planned equity contribution. 

The total costs for the first stage of the project amount to € 9.1 M. The sources of financing consist of € 4.1 M in shareholders' equity and advance payments from apartment buyers (45%), while the remaining € 5 M (55%) will be raised through a bond issue distributed via the BeMyBond platform. The project's capital structure may change during the course of the project as advance payments from the future buyers are received – as these advance payments increase, the required amount of bond financing could decrease accordingly. 

More detailed information about the capital structure is provided in the Key Investment Information Sheet.

UAB RS Invest audituotos 2025 m. metinės finansinės ataskaitos su auditoriaus išvada

UAB RS Invest audituotos 2024 m. metinės finansinės ataskaitos su auditoriaus išvada

Pagrindinės informacijos apie investiciją dokumentas

The project owner (Issuer) is UAB Levorita, 51% of its shares are owned by Gilesta Group, whose shareholders are Romas Paliulis and Šarūnas Grigaitis, each holding an equal ownership stake. Šarūnas Grigaitis also serves as the CEO of the group. The remaining 49% of the Issuer's shares are owned by two private individuals. The Issuer's CEO is Mantas Simonavičius, who is also a shareholder of the company. Romas Paliulis and Šarūnas Grigaitis are the ultimate beneficial owners of the project owner. 

Gilesta Group is a real estate development group that owns UAB Gilesta, a general contractor with more than 15 years of experience, specialising in the construction of public, commercial, industrial, and infrastructure projects. Among the company's most significant projects are the National Concert Hall on Tauro Hill in Vilnius, the Rūdninkai Military Training Area, military infrastructure projects for the Ministry of National Defence, the Infectious Diseases Clinic of Klaipėda Hospital, Tech Zity Vilnius, and other technically complex projects requiring the highest level of coordination and planning. The company currently employs more than 200 people. 

UAB Gilesta is in a strong financial position. In 2025, its revenues amounted to € 92.5 M, net profit reached € 5.8 M, and equity exceeded € 9.8 M. During the same period, Gilesta Group reported a net profit of € 1.1 M.

+ 3

Bonds for a residential project Miško Rivjera, 3rd tranche

8%

22 months

€ 500 000

Low risk

Average amount invested

Investments

Interest return period

Launch date

Time remaining

Use of proceeds & project structure

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Project location

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